On Holding shares rose more than 14% in early trading after the company used its Investor Day to lay out financial and product strategy through 2029. Management committed to maintaining a gross profit margin of at least 65% through 2029, well above Nike's most recent annual gross profit margin of about 43%. The company reiterated its full-year 2026 guidance for net sales growth of over 20% on a constant currency basis, and announced plans to repurchase up to $1 billion in shares through 2029. On also said it will enter the soccer market, naming French soccer star Kylian Mbappé as its global ambassador. The stock has lost one-third of its value this year, and investors appeared to call a bottom on the shares after the event.
On Holding LtdInvestor Day committed to at least 65% gross margin through 2029, reiterated 20%+ sales growth guidance, and announced up to $1 billion in buybacks.
Nike Inc
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